17
Vastaamo hacker traced via ‘untraceable’ Monero transactions, police says
(www.bleepingcomputer.com)
this post was submitted on 30 Jan 2024
17 points (77.4% liked)
Monero
1667 readers
20 users here now
This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
Wallets
Android (Cake Wallet) / (Monero.com)
iOS (Cake Wallet) / (Monero.com)
Instance tags for discoverability:
Monero, XMR, crypto, cryptocurrency
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Exactly. Not using Bitcoin is avoiding the problem instead of trying to find a solution
Monero is the solution to this specific problem though? Acceptance is a different problem and can be solved by asking the org to accept Monero.
Could you explain how the man got caught? I still don't understand how using bitcoin compromised him
Imagine extorting $50k from someone, you can see the bitcoin move from the extortionists wallet to a non-kyc instant exchanger and 30 minutes later a non-kyc instant exchanger sends $50k minus transaction fees to a Binance account. Doesn't exactly require breaking encryption that's been around for years to make the connection.
Doesn't really matter though. If he had held onto the Monero, he would have still gotten caught because he accidentally uploaded his /home directory with personal info and published it with his extortion-account when trying to upload stolen data.
That's just plain stupid. Of course it's easy to track the money if he sends all of it across. But what if he had created multiple monero and bitcoin accounts, used P2P for both and had transacted with random amount of coins from each currency? It would have been harder but are there any faults in the privacy of either coin that would still have led to the authorities catching him? Not advocating for crime, of course, but privacy is a concern for all of us.
Lol at uploading the entire folder.
Just to make things clear, the Bitcoin ledger is entirely transparent so not actually anonymous. While it's technically possible to not get caught with bitcoin, it requires a ton of extra effort and if you mess up only once, you might retroactively link everything back together. In Monero there are some known attacks that could reduce your privacy but if you are aware of those they can be easily avoided. There's actually a whole youtube show on those.
Here is an alternative Piped link(s):
whole youtube show on
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.
What if you include multiple accounts on either side and also churn across multiple accounts?